Public Companies Retreat from Bitcoin Treasuries Amid Debt and Market Pressure

Nearly 30 public companies have retreated from their Bitcoin treasury strategies as debt and weak share prices put pressure on corporate holdings.

According to research by VanEck, nine companies have fully exited their Bitcoin treasuries, while others are selling assets or scaling back accumulation.

Matthew Sigel, VanEck's research head, noted that the move is a result of debt and weak share prices turning corporate holdings into a source of cash.

Prenetics, a consumer-health company, sold its entire 510 BTC position for about $41 million. Sequans Communications, a French semiconductor company, also ended its Bitcoin treasury strategy by selling most of its BTC to repay convertible debt.